Westag & Getalit AG

euro adhoc: Westag & Getalit AG
quarterly or semiannual financial statement / Gratifying sales and profit trend in the first quarter of 2006

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10.05.2006

The most recent data from the Federal Statistical Office are apparently indicating a turnaround in the German construction sector; incoming orders in the building construction sector were up 12.1 % year-on-year in the first two months of 2006. Westag & Getalit AG increased its Q1 2006 sales by 17.1 % to EUR 47.7 million, even though it has to be taken into account that the Q1 2005 sales were relatively weak at EUR 40.7 million. Clear growth was achieved on the export side, with sales rising by 37.3 % to EUR 10.4 million (previous year: EUR 7.6 million). The export share climbed to 21.8 % (previous year: 18.6 %).

Despite the renewed increase in raw materials prices, our Q1 2006 earnings before income taxes advanced to EUR 2.3 million (previous year: EUR 0.8 million). Instituted on January 1, 2006, our working time model (increase in working hours from 35 to 38 hours) permitted to boost sales and profits virtually without increasing the absolute personnel expenses. This led to a substantial decline in our staff cost ratio which was down to 30.7 % from 35.2 % in the comparative quarter of the previous year. Net profit rose to EUR 1.4 million (previous year: EUR 0.5 million), while DVFA/SG earnings per share grew to EUR 0.25 (previous year: EUR 0.09).

Management is confident about the further course of 2006, anticipating additional major stimulation particularly on the export side of our business. While the first-quarter sales increase is not likely to be repeated on account of the uneven quarter-on-quarter trend recorded in 2005, we expect to report good growth for the current financial year as a whole. Our year-end result will largely be determined by price trends both in our raw materials markets and in the markets for our finished products. As parts of our customers are experiencing difficult trading conditions in highly competitive markets, upward adjustments of our prices are somewhat difficult at this time. Given the indicators of a recovery in the German economy, we nevertheless assume that a moderate price increase is attainable. All in all we expect to report another good annual result.

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ots Originaltext: Westag & Getalit AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de

Branche: Building materials
ISIN:      DE0007775207
WKN:        777520
Index:    Prime All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade



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